Chicago drops out of top 10 metros in foreclosure rate

by Joe Zekas on 1/16/14

Miami had the highest foreclosure rate in the nation in 2013, with 3.93% of its housing units in some stage of foreclosure, according to recently-released RealtyTrac data.

Among Metropolitan Statistical Areas with a population of more than 200,000, seven other Florida metros were in the top 10 in 2013 foreclosure rates. Rounding out the top 10 were Rockford and Las Vegas, in 8th and 9th place, respectively.

As recently as October Chicago had the 3rd highest foreclosure rate in the nation. For all of 2013 Chicago took the number 11 position in the rankings, with 2.4% of its homes in foreclosure.

Illinois had the third-highest foreclosure rate among states, with 1.89% of its homes in some stage of foreclosure. The number of Illinois foreclosures fell 27% from 2012 to 2013.